Hi Shaun,

As far as the 70% lends, that is all that many NZ banks will lend when buying in certain towns.

I believe a couple of banks will lend the 80%, but not the ones that I enquired at.
It is to do with RISK.
Perhaps their upfront fees are higher to compensate..??

Regards,

Del

Fair comment Yack,

Del[confused2]

Hi John & Lois,

We have always opted for P&I loans…

We prefer the sleep at night factor, that our loans are reducing. It means more to us than extra cashflow.

Our only Interest Only loan is a commercial one, which although it still is +ve cashflow if it were P&I, we are using it as cashflow for other properties (just in case)…

Good…[Read more]

Hi,

There are some areas that “most” banks will only lend a maximum of 70% LVR.

Some of the main ones off the top of my head are:

Tokoroa,
Taurmanaui
Castlecliff
Gonville

Um, my mind has gone blank, sorry…
I’m sure others can add to the list if you require it.

Regards,

Del

Hi,

Perhaps send a PM to one of the buyers agents / spotters that frequent this forum.

The main ones that come to mind are Westan, Minimogul, TasmanInvestor.

Del

Hi Mini,

In about 2 yrs, we both will be able to set the town on fire (so to speak)…

I don’t like taking advantage of others in a bad financial position, but WOW, it’s going to be good buying all the great deals that most Australian investors don’t realise are even possible!
We will be able to pick and choose again.

Regards,

Del

Hi Vicgirl,

I am a fellow Vic Girl, but soon to be QLDgirl!!

We are shifting in the near future to Hervey Bay QLD. We feel there are some great areas in QLD to invest, and for instance Hervey Bay is currently extending it’s airport runway to allow jets to fly in direct from Melb/Sydney. That has got to be good news for investors.

I think it…[Read more]

Hi Bennido,

Property investing is a business.

I’m sure that this tenant is aware that he is on a pretty good wicket…

Why not speak to the tenant, and find out how he feels about the rent increase?
He can only say yes or no…

If you want this house in particular, then try to buy it as vacant possession on a long settlement, if he is not…[Read more]

Hi Shane,

I think there are still good deals to be found in OZ, however, they are not easy anymore…

NZ has plenty of good deals still, but it is getting harder to find “quality properties” at bargain prices. I would suggest that you go there in person if considering buying there.

I think the NZ market will still go strong for at least the…[Read more]

Ok PropertyGuRu,

You asked for it…[blush2]

I have sent thru one of me!

Thanks,

Del

Hi all,

Most of you know that we are Steve & Dave’s converted “ony ever buy pos. cashflow property” types…[baaa]

Well Bennido, if I were you, I would definately hang on to this property. (as long as you are not getting into financial difficulty over it)…

The stamp duty & loan costs, added with agent’s selling costs etc. will be a hefty…[Read more]

Hi all,

Interesting discussion……

I believe that over a 10 year period, that historically variable always works out cheaper.

I don’t think that I could plan to hold any IP for 15 years. My long term thinking is maybe 5 – 7 yrs, planning anything past that is in the “too hard basket”!

Del

Hi Muppet,

Yes, I spoke to TasmanInvestor (John) today on the phone… He is still above water.

I feel extremely sad for all who are suffering in NZ, especially the Dairy Farmers… it is not a joking matter.

I think there are still some families that are homeless from the February floods.

Poor NZ – flooded one day, shaken the next!

Best…[Read more]

Hi,

KP, that was an excellent suggestion, about the FHOG. In Victoria that is $12,000 at the moment… It’s strange that nobody else suggested it.

Just a word of caution, posts about shares tend to get deleted…. We are not allowed to discuss any specific share prices etc…

Melissah, I’d start a savings budget, and start by writing down…[Read more]

Hi all,

welcome back Simon…Melbear have a nice week off!

Westan,

It’s good that Janine has got you spending some of those $$$ you are making on improvements to YOUR home..

Del

Hi Muppet,

Well done to the Kiwi’s (again)..

There’s always next year….[whistle]

We aussies just love to hate those All Blacks, but they are a great team. [jerry]

Regards,

Del

Hi Westan & Marisa,

Westan I think it was us that may have mentioned Elders Insurance to you.[biggrin]

We used them first of all for our large farmpac policy and no other insurance companies have been able to quote anything close.

We use them now for all our properties, but I think that I’m getting lazy, ‘cos I haven’t compared any other…[Read more]

Hi,

We have always paid between 5.5% to 7% + GST in regional areas of Vic. No qtrly insp fees or anything added. $2.50 per mth postage fees. the normal 1 week letting fee.

We are in the process of negotiating PM fee at the moment for Hervey Bay QLD, and they are trying not to budge under 8.5% + GST, $5.00 postage per mth. We shall see!

As…[Read more]

hi,

There may be no stamp duty when purchasing, however, generally CGT will still apply.

I’d strongly suggest that you talk this thru with a GOOD accountant. There are different structures to buy in, but “caveat emptor”.

Please seek good legal advice.

Good luck,

Del

Hi,

If I were a plumber on a much earned day off, I would charge a bit more if I had to leave my family or friends to go and unblock someone else’s toilet..[fart]

I think that as a landlord, this is just one of those things that you have to grit your teeth about, but cop it sweet.

Problems like this never seem to happen between 9-5 on a week…[Read more]